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The Sensex, which notched gains in the last two trading sessions, declined by 35.07 per cent to 8,966.68, after varying between 8,999.98 and 8,867.13 points.
Similarly, the 50-share National Stock Exchange index Nifty fell by 0.10 point to 2,807.05, after touching the day's low of 2,773.65 points.
Marketmen said investors turned wary ahead of the weekend after a two-day rise, with a drop in regional markets and Wall Street's fall last night adding to the downtrend.
They said worries about the slowdown in the economy and the clouded political outlook ahead of the Lok Sabha elections in April also impacted investor confidence.
Realty sector stocks were major sufferers, losing 4.14 per cent to 1,556.02, after the segment leader Akruti City slipped nearly 27.81 per cent, a day after another bourse, the National Stock Exchange, said it would remove the firm from the equity derivatives segment.
The banking sector plunged by 1.95 per cent to 4,055.63 as there were concerns that rising bad loans would dent earnings.


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